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1309 Downwood Drive Burleson, TX 76028

3 Beds 2 Baths 1,932 sqft Built 1990

$243,900

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $126.24
  • 6 Days on Market
  • MLS # : 14494424
  • Updated Date : 01/05/2021 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,932 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Arlington

Listing Agent's Description

Well maintained move in ready custom home on beautiful lot with mature shade trees. Large open living area with brick fireplace & recessed lighting separated from the dining room with a half wall leaving an open feel. Great kitchen with pantry and lots of cabinets for storage. Master bedroom has a private bath with a tub and separate shower, walk in closet. Additional bedrooms also have walk in closets.

SEE MORE

MARKET HIGHLIGHTS

  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)
  • Dallas metro's economy is worth $579 billion in Gross Metro Product and projected to grow to $613 billion in 2019 (USMayors.org, 2018)
  • Home to 20 Fortune 500 headquarters, 39 Fortune 1000 headquarters and 12 of Forbes' top private companies (Fortune)
  • Dallas metro contributes to 31.9%% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
  • Dallas metro has 67.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Burleson Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240kPrice in $111k258k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Burleson Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2115012001250130013501400145015001550160016501700Rent in $11261734

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Judy Hajek Elementary School Primary Regular 547 35 6
Hughes Middle School Middle Regular 1,200 71 5
Burleson High School High Regular 1,583 101 7

Judy Hajek Elementary School

  • Education Level: Primary
  • # of students: 547
  • # of teachers: 35
6
GreatSchools Rating

Hughes Middle School

  • Education Level: Middle
  • # of students: 1,200
  • # of teachers: 71
5
GreatSchools Rating

Burleson High School

  • Education Level: High
  • # of students: 1,583
  • # of teachers: 101
7
GreatSchools Rating
 

$219,510$268,290$243,900

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$847
Property Tax -$610
Property Insurance -$139
Property Management Fees -$99
CASH FLOW
-$35

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$243,900

PROJECTED PRICE

$1,660

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 10.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,384

INVESTMENT

$70,384

Down Payment
$60,975
Rehab Estimate
$5,750
Closing Costs
$3,659

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$847

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $60,975
Loan Amount $182,925
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$7,407

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,660

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,691

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,5953$1,6604$1,7505$1,750
$1,750
RENT COMPS ANALYSIS
  • 1309 Downwood Drive Burleson, TX 3
    • 3 beds 2 baths ∙ 1,932 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,932 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.86
    •  
  • 117 Downwood Drive Burleson, TX 1
    • 3 beds 2 baths ∙ 1,850 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,850 Sqft ∙ Built 1994
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.86
    •  
  • 325 Rock Hill Drive Crowley, TX 2
    • 4 beds 2 baths ∙ 1,857 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,857 Sqft ∙ Built 2003
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.86
    •  
  • 1321 Highcrest Drive Burleson, TX 4
    • 4 beds 2 baths ∙ 1,958 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,958 Sqft ∙ Built 2004
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.89
    •  
  • 1133 Scarlet Sage Parkway Burleson, TX 5
    • 4 beds 2 baths ∙ 1,965 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,965 Sqft ∙ Built 2004
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.89
    •  
PROPERTY LISTING DETAILS
Jonathan Cook
Keller Williams Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14494424
Last Updated: 01/05/2021
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